Manhattan saw a slight increase in the number of sellers slashing their listing prices in May, according to RealtyHop's monthly report.
The top five neighborhoods with the most price cuts were all in Manhattan. The Upper East Side-Carnegie Hill saw the most price cuts once again, with 227 cuts, a slight increase from 217 in April. Turtle Bay-East Midtown saw the second-most number of cuts again, with an increase from 171 to 192 cuts. All of the other top neighborhoods saw 146 to 165 price drops.
In its monthly price drop report, RealtyHop identifies neighborhoods with the highest total number of price cuts. It also highlights areas with the biggest percentage drop in median price, and the biggest median dollar price drop.
A four-bedroom, four-and-a-half bath penthouse in Nolita saw the biggest dollar price cut with a $4,505,000 drop to $29,995,000. In Brooklyn, a multi-family building saw the largest percentage price cut with a 31 percent drop to $960,000.
Here are listings with the deepest price chops still on the market according to RealtyHop's report.
Top 5 NYC addresses with the biggest dollar price drop in May
224 Mulberry St., #PH, Nolita
This four bedroom, four and a half bath saw a $4,505,000 cut to $29,995,000. The penthouse features high ceilings, two fireplaces, terraces, oversized windows, hardwood floors, millwork, marble countertops, Gaggenau appliances, keyed storage, and two deeded parking spots. The building has a doorman, garage, and gym.
142 Duane St., #PH1, Tribeca
This four bedroom, three and a half bath saw a $2,500,000 cut to $10,000,000. The co-op features wood-burning fireplaces, high ceilings, oversized windows, hardwood floors, paneled walls, central air, and a terrace. It's in a land lease building.
1220 Park Ave., #15C, Carnegie Hill
This five bedroom, four bath saw a $2,005,000 drop to $8,995,000. Apartment #15C has coffered ceilings, hardwood floors, stainless steel appliances, wood-burning fireplaces, hardwood floors, and a library. Amenities include a doorman, gym, and laundry room.
740 Park Ave., #23C, Lenox Hill
This five bedroom, six and a half bath saw a $2,000,000 drop to $13,900,000. The co-op has a fireplaces, moldings, hardwood and carpet floors, central air, high ceilings, and built-ins. The building has a doorman and gym.
21 West 70th St., Lincoln Square
This six bedroom, seven bath saw a $2,000,000 cut to $15,500,000. The townhouse features high coffered ceilings, hardwood and carpet floors, fireplaces, recessed lighting, stainless steel appliances, a terrace, and roof deck.
Top 5 NYC addresses with the highest percentage price drop in May
1102 Sutter Ave., East New York
The multi-family building saw a 31 percent cut to $960,000. The brick building has a basement and hardwood floors.
2701 Goethals Rd. North, Staten Island
This two bedroom, one bath saw a 28 percent cut to $99,000. It has a washer and dryer, forced heat and air, tile and hardwood floors, black appliances, and ceiling fans.
115 Cabrini Blvd., #B32, Hudson Heights
This one bedroom, one bath saw a 27 percent cut to $400,000. The co-op has hardwood floors, high ceilings, arched doorways, stainless steel appliances, and four closets. The building has a live-in super, bike storage, and storage cages.
1383 Plimpton Ave., #3E, Highbridge
This two bedroom, one bath saw a 27 percent cut to $99,000. The co-op has hardwood floors, stainless steel appliances, recessed lighting, plus new plumbing, electrical, and windows.
80 Beacon Ct., Gerritsen Beach
This two bedroom, one bath saw a 25 percent drop to $224,999. The 516-square-foot house requires a full renovation, according to the listing.
You Might Also Like